April is Financial Literacy Month

By Stephanie Torski posted 04-01-2021 08:00


In honor of Financial Literacy Month CFA Society Boston’s Financial Literacy Initiative has produced a calendar of conversation starters to discuss money values within your family.

This calendar is meant to be shared with family, associates and organizations for further distribution. You can also visit The Federal Reserve Bank of Chicago’s website, Money Smart Week, for more resources to support Financial Literacy Month. Additional Financial Literacy resources are also available on the CFA Society website here.

More on Financial Literacy

The President's Advisory Council on Financial Capability defines personal financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being”.

According to the U. S Treasury’s Financial Literacy and Education Commission, there are 5 key components of financial literacy:

  1. Earn: Understanding your paycheck and benefits

Gross pay, taxes, other deductions and net pay

  1. Spend: Creating a personal budget
  2. Save & Invest: Determining your financial goals

Emergency fund, planning for retirement, saving for a big purchase, paying off debt

Understanding banking, investments and investment risk profiles

  1. Borrow: Credit cards, loans, student loans and your credit score
  2. Protect: Preventing fraud and purchasing insurance

CFA Society Boston’s Financial Literacy Initiative is a community outreach program designed to consolidate valuable financial literacy content and make it widely available as a resource to the general public. We strike alliances with non-profit groups or employers, leveraging their reach to access a wide variety of audiences, from late high school onward. Since its inception in 2014, the initiative has grown year-over-year in multiple ways: 1) Member Engagement- over 180 volunteers; 2) Alliances- over 50 Alliances since its inception; 3) Countless lives touched. 

Now, more than 180 CFA Society Boston members – all financial professionals – volunteer to develop, market, and distribute educational modules to improve financial literacy. The initiative is topic-driven and targets people of all ages and backgrounds. The program addresses all 5 key components of Personal Finance listed above with a variety of presentations.

@CFABoston #cfasocietyboston #USTreasury @ustreasury